Deloitte Legal Guide to Cross-Border Secured Transactions

In a globalized world, many companies engage daily in cross-border commercial transactions. The Deloitte Legal Guide to Secured Transactions includes country-specific information provided by local lawyers and is intended to be a useful tool for creditors and security providers tackling complex issues relevant to cross-border secured transactions.

Executive summary

In a globalized world, many companies engage daily in cross-border commercial transactions. This requires dealings to be structured in a manner that suitably manages risk. As this is commonly achieved via security agreements, familiarity with the specifics of cross-border taking and enforcing of security in various jurisdictions can help companies safely conduct businesses outside their home countries.

To do this, companies need current, easy-to-use information relative to secured transactions in the jurisdictions where they do business. As a result, the Deloitte Legal Guide to Secured Transactions was produced by legal practices of the Deloitte Touche Tohmatsu Limited member firms from 27 jurisdictions* across Europe, South America and South-East Asia. It was prepared based on research carried out during 2012-2013 in each of these jurisdictions, and includes country-specific information provided by local lawyers.

Topics covered for each jurisdiction include:

· Types of security available

· Types of assets subject to security

· Types of obligations that may be secured

· Validity, publicity and other perfection requirements

· Costs of set up and publicity of security

· Timing for publicity/ perfection requirements

· Rights acquired by the secured creditor

· Governing law issues

· Legal concerns when taking security

· Enforcement issues: court involvement, timing,

· Challenges and cancellation risks

· Secured creditor’s position in insolvency

Also included are highlights and recommendations from the drafters, followed by detailed information for each of the jurisdictions surveyed.

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